Bearish sentiment appears to be returning to the broader crypto market, with major digital assets such as Dogecoin retesting key support levels. Presently, DOGE has risen slightly above the $0.16 price mark after a brief rebound on Tuesday. However, the popular dog-themed meme coin has undergone a bullish breakout that hints at growing upside momentum and a potential rally. A Bullish Breakthrough For Dogecoin While Dogecoin has plummeted amidst growing bearish market sentiment, Trader Tardigrade, a seasoned crypto analyst, has outlined a bullish development on the DOGE chart. The bullish development reflects DOGE’s notable resilience during the ongoing volatility. In the post shared on the popular X (formerly Twitter) platform, Trader Tardigrade revealed that Dogecoin is flashing upside signals after finally breaching above a resolute negative trendline. DOGE’s chart shows that this downward trend line has been visible for over 50 days, suggesting a possible change in momentum. This technical breakout could mark the end of a protracted period of bearish pressure, which is likely to reignite bullish hopes. According to Trader Tardigrade, a new higher low (HL) and higher high (HH) have been observed in the current microstructure on the daily chart. However, the crypto expert claims that a second higher low would confirm a trend reversal from the downside to the upside. Should this technical breakout be confirmed, a rally at this point seems likely. The seasoned crypto analyst has underscored the potential for DOGE to rally hard in the upcoming months toward new all-time highs in another X post. Trader Tardigrade’s forecast hinges on a bullish signal from DOGE’s Average Directional Index (ADX). Specifically, the crucial ADX indicator shows a lower low on the weekly time frame. Looking at the weekly chart, this technical signal typically occurs right before each bull run. The first time it appeared was in 2017, and Dogecoin saw a notable upswing. Also, in 2020, the same signal re-emerged, which preceded the significant bull run in 2021. While the same signal has unfolded in the current bull market, Trader Tardigrade anticipates a similar result, pointing to a massive upside move beyond the $14 price mark by 2026. DOGE’s Path To $0.21 Hinges On This Key Zone DOGE may be set for a bounce, but the dog-themed meme coin must overcome certain key levels. Ali Martinez, a technical expert and trader, has outlined $0.17 as the next crucial level to watch as upside potential grows. On the 3-day chart shared by Martinez, the Tom DeMark (TD) Sequential has flashed a buy signal, indicating an impending rally. According to the expert, if it can regain $0.17 wth the TD Sequential buy signal now visible on the 3-day chart, DOGE may be able to unleash a rebound toward $0.21.
Bitcoin is holding steady above its 50-day Simple Moving Average (SMA), showing signs of underlying strength despite a lack of clear directional momentum. With rising trading volume and mixed technical indicators, the next move could swing either way, keeping the market on edge. RSI Holds Neutral As Bitcoin Awaits A Clearer Signal According to Shaco AI, in a recent update on X, Bitcoin is currently hovering around $107,264.17, positioning itself just above two key moving averages. It’s nudging the 25-day SMA at $107,229.82 and holding slightly above the 50-day SMA, which sits at $107,040.81. This positioning reflects a mild bullish bias in recent sessions, keeping both bulls and bears on alert. Looking at momentum indicators, the Relative Strength Index (RSI) is resting at 53.36—firmly in neutral territory. This suggests that Bitcoin is neither overbought nor oversold at the moment, offering no strong directional clues as it keeps the market guessing. Furthermore, the Average Directional Index (ADX) adds to this indecisive mood, coming in at a soft 20.44. This low reading signals a weak trend, meaning there’s not enough force from bulls or bears to drive a clear breakout just yet. In other words, the market isn’t leaning heavily in either direction. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory at -137.33. Although it isn’t signaling any strong downward momentum, traders may want to stay cautious and alert for any sudden shift in the current tone. Despite the technical indecision, market activity is picking up. Bitcoin’s recent trading volume has surged to 1903.51, well above the average of 1522.43. This uptick signals a rise in interest and participation, indicating that traders are actively positioning themselves in anticipation of Bitcoin’s next move. Critical Zones At Play As Market Prepares For A Directional Push Looking at key levels, Shaco AI highlighted that resistance is at $108,789.99, which seems to be a strong level to overcome. The level marks a significant ceiling for Bitcoin, and any attempt to push higher will need solid momentum to break through. On the other hand, support lies at $104,622.02. This support level will be critical in case the price begins to retreat, as a breakdown here could open the door for further downside. Based on current indicators, the analyst suggests it’s wise to keep an eye out for potential movement in either direction. With volume picking up, Bitcoin may soon test either the resistance above or fall back to support, depending on how momentum develops in the coming sessions.